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Energy stocks have become an essential segment of the investment portfolios of both households and institutional investors. This study investigates the dynamic aspect of evolving weak-form efficiency in six energy stock markets: those of the United States (US), Canada, China, Australia, India, and Saudi Arabia. The generalized autoregressive conditionally heteroskedastic in the mean GARCH-M(1,1) method is applied, alongside the state-space time-varying approaches with the Kalman filter estimation, to detect the evolving efficiency for periods ending in November 2019. The empirical results reveal that the studied markets undergo various extents of time-varying efficiency, containing periods of efficiency enhancement as well as periods of deviation from efficiency. Meanwhile, the 2007-2009 global financial crisis and the 2015 changes in the energy sector-in addition to other contemporaneous crises-have a profound influence on the timeline of market efficiency evolution. Overall, all of the markets gradually became more efficient, apart from India's energy market as a result of the current energy crisis in India. Amid the energy markets explored in this study, the US energy market was found to be the most efficient.

Investors step into the stock market with the objective of earning smart returns on their investments. The stock market can help in realising these goals of the investors, however, all investments are subject to risks. The origin of the risk is the uncertainty of realising the desired returns on the investment. This aspect is known as risk of the investment. This paper aims to search the best model to estimate and forecast volatility of Indian and Chinese stock market. The data for the paper is related to the two main indices of Indian Stock Market namely, SENSEX and NIFTY and two indices of Chinese stock market, namely, Shenzhen composite index and Shanghai composite index for the period July 2003 to June 2013. We applied symmetrical as well as asymmetrical GARCH models to the data. Among all the three models i.e. GARCH, EGARCH and TARCH, we found the GARCH (1,1) model as the best model to estimate and forecast the volatility of Chinese stock market for both the daily and weekly return series. For the Indian stock market, the recommended volatility estimation and forecasting model is EGARCH model that captures the leverage effect. We did not find volatility clustering and leverage effect for the monthly return series for both Indian and Chinese stock market. Thus, it is suggested to use the traditional time invariant volatility models for the monthly return series. [ABSTRACT FROM AUTHOR]

Fast-growing developing countries have emerged as an important destination and source of trade, investments and technology. Furthermore, trade between developing countries has grown rapidly over the last decades, and is becoming more diversified, where exchange includes from primary commodities to manufactures and high-end services. The aim of the special issue is to look at these dynamics and how the leading developing countries have turn into growth engines and technology drivers. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to contribute to existing literature by examining whether development aid has any measurable impact on food security, whether the impact is conditioned on the quality of governance and whether it differs based on the type of aid provided. Design/methodology/approach -- Panel-data analysis of 85 developing countries between 1994 and 2011, using generalized method of moments and two-stage least squares estimators. Findings -- The paper finds that aid in general has a small positive impact on food security; that multilateral aid, grants and social and economic aid have a positive effect on food security in their own right, and that bilateral aid, loans and agricultural aid are more conditioned on the quality of governance that other aid. Research limitations/implications -- The main limitations rest with the imperfect nature of cross-country data on food security and governance, which I have tried to overcome through a series of robustness tests. Practical implications -- The findings suggest that aid, despite its many deficiencies, can play a positive role in strengthening food security. Furthermore, they indicate that concessional loans, bilateral aid and agricultural aid are likely to foster food security only in countries with better governance. Originality/value -- The paper constitutes a novel contribution to existing literature because it is one of the first to use cross-country data to explore the impact of aid on food security and because it utilizes a relatively complex aid categorization, which allows its conclusions to be more nuanced. [ABSTRACT FROM AUTHOR]

This paper compares the performance of India and China in attracting foreign direct investment (FDI). China ranks number one as the world's preferred foreign investment destination. FDI statistics suggest that India's performance has been significantly understated but India still lags absolutely for several reasons. These include a high tariff regime, poor physical infrastructure, a regulatory system that is too often not business friendly and a policy of reservation of many potentially export-oriented sectors for small businesses. The paper concludes that further liberalization of India's FDI regime is likely to be driven by external pressures and state-level initiatives. Copyright © 2004 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

What is the relationship between investment and output at a macro-level? What limit is there in capital investment that cooperates with technology? How can this limit be measured and controlled? This paper will answer these questions using basic variable functions of investment that include an endogenous cost of capital and the corresponding valuation ratio. Functions of investment are formulated by my endogenous growth model/production function and with a new method to estimate the relationship between consumption and investment and between wages and rents, each by country and sector. It is urgent for policy makers to pay much more attention to a minus government saving and a minus valuation value and to realise how the growth rate of the total economy is damaged. [ABSTRACT FROM AUTHOR]

The article offers information regarding the potential of present drivers of economic governance, trade and investment, and envisions intersections and cross-cutting impacts on poverty and human development. It reflects a review employed to highlight scenarios shaping Africa's economic governance and the magnitude of the impact on pro-poor growth. It emphasizes on changes in Africa's economic policy which include stakeholders, poor farmers, economic governance and policy processes. It mentions that the emergence of China and India on the world market have brought about major changes in the character of the global commodity market.

This article analyses the geography of innovation in China and India. Using a tailor-made panel database for regions in these two countries, we show that both countries exhibit increasingly strong polarization of innovative capacity in a limited number of urban areas. But the factors behind this polarization and the strong contrasts in innovative capacity between the provinces and states within both countries are quite different. In China, the concentration of innovation is fundamentally driven by agglomeration forces, linked to population, industrial specialization and infrastructure endowment. Innovative areas in China, rather than generate knowledge spillovers, seem to produce strong backwash effects. In India, by contrast, innovation is much more dependent on a combination of good local socioeconomic structures and investment in science and technology. Indian innovation hubs also generate positive knowledge spillovers to other regions. [ABSTRACT FROM PUBLISHER]

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